GuarantCo provided PRAN Agro with a 100 percent guarantee of a BDT 2.1 billion (c. USD 25 million) on-shore bond with a seven year tenor to attract domestic institutional capital from Bangladesh and support PRAN Agro’s expansion plans.
The proceeds from the bond guaranteed by GuarantCo have enabled PRAN Agro’s expansion plans including land development, construction, storage facilities and processing machinery. The expansion is expected to result in over 20 percent increased sourcing from local farmers, contributing to rural income and food security. The investment into PRAN Agro has also provided much needed job security. The company currently employs 11,000 employees, 67 percent of which are women.